Emory stereotype: exaggerated
Yes, there are a fair # of "stereotpical Jappy" and wealthy students at Emory. The NY sterotype is high for a southern school but is certainly not overwhelming and I doubt it is much more than 25%. I can also tolerate that since I currently live in that environment. You find your niche and friends whether at high school or college. Keep in mind that at these type of private schools, that the majority of students come from well to do families throughout the country. I read a stat that something like 65-70% of Northwestern students come from families earning over 250K.
I did notice at Emory a fair number of designer clothes and accessories. Doesn't bother me much. I am sure these students do more than chat about their Prada collection since many are quite intelligent and studious.
Obviously, you will generally find there to be more wealthy students at privates than at state universities. How many families can afford a private sticker price w/o making financial sacrifices even with some financial aid.